REGI — Regional Innovation Ecosystems — CED (QC) — Not-for-profit
Highlights
This program is designed for businesses like yours to thrive in an innovation-friendly environment. You can receive up to 90% of your project costs covered (up to 50% for capital projects), making it easier to invest in cutting-edge equipment, recruit skilled resources, and form valuable partnerships. This financial assistance is non-repayable, which means you won't have to worry about paying it back.
Key benefits include:
- Non-repayable financial assistance up to 90% of authorized costs
- Support for acquiring advanced technology and equipment
- Resources for innovation support services
- Opportunities to attract foreign investment
By participating in this program, your business can enhance its innovation capacity, foster growth, and increase productivity. The application process is straightforward, and your business already qualifies. This is a unique chance to gain significant financial support and propel your business forward.
Financing Details
Type of Financing: Non-repayable Financial Assistance
Repayment Terms and Interest Rates:
- This is a non-repayable financial assistance, meaning you do not need to pay back the funds received.
Eligible Expenses:
- All costs directly related to the project that are deemed reasonable by CED and essential to the implementation of the project.
Ineligible Expenses:
- Refinancing of an existing debt
- Purchase of an asset at a price that exceeds its fair market value
- Amortization expenses
- Goodwill costs
- Land purchases
- Any non-essential costs not directly related to the project
Fees:
- There are no fees associated with this program.
Qualifications
- Must be a non-profit organization (NPO) that provides services or generates benefits for businesses.
- Business incubators and accelerators are eligible.
- Municipalities and regional county municipalities (RCMs) are eligible.
- Groups or associations (NPOs, businesses, post-secondary institutions, and consortia) are eligible.
Indigenous organizations are eligible.
Disqualifications:
- Retail businesses (e.g., clothing stores, grocery stores, automobile sales and maintenance outlets).
- Food services (e.g., restaurants and cafés).
- Transportation services.
- Housing construction.
- Daycare services.
- Hair and beauty salons.
- Nightclubs, bars, and cabarets.
Description
This program offers your business non-repayable financial assistance. You can receive up to 90% of the authorized costs for your project. If your project involves capital expenses, you can get up to 50% of the authorized costs covered.
The funds can be used for various purposes, such as:
- Acquiring cutting-edge equipment for research centers, educational institutions, incubators, or accelerators.
- Recruiting highly skilled resources to boost your business's innovation capacity.
- Creating or developing partnerships, alliances, and industrial clusters to foster networking and collaboration.
- Attracting foreign direct investment to your region.
Eligible costs include all expenses directly related to your project that are deemed reasonable and essential. However, costs like refinancing existing debt, purchasing overpriced assets, amortization expenses, goodwill costs, and land purchases are not covered.
This is a great opportunity to enhance your business's growth and productivity without the burden of repayment.
Program Steps
Refer to the Project Submission Guide: Start by reading the Project Submission Guide available on the CED website. This guide will provide detailed instructions and important information about the application process.
Prepare Documentation: Gather the necessary documents to support your application. These may include:
- Detailed project description
- Financial statements
- Business plan
- Proof of non-profit status (if applicable)
- Letters of support from partners or stakeholders
- Any other documentation that demonstrates the viability and impact of your project
Contact CED for Guidance: Reach out to CED for any questions or clarifications regarding the application process. They can provide valuable insights and ensure you have all the required information.
Complete the Application Form: Fill out the application form accurately and thoroughly. Ensure all sections are completed and all required information is provided.
Submit the Application: Submit your completed application form along with all supporting documents to CED. Follow the submission instructions provided in the Project Submission Guide.
Follow Up: After submission, stay in touch with CED for updates on the status of your application. Be prepared to provide any additional information or clarification if requested.
Review and Approval: CED will review your application based on their analysis criteria, including the expected results, viability, management capacity, and partner contributions. If approved, you will be notified and provided with the next steps for funding disbursement.